Last Updated : March 09, 2010 13:50
Silver futures fall to $17.27 on late recoup of dollar
Silver futures lost 0.63 percent to close down at $17.27/oz as the dollar index recouped in the US trading hours and closed flat at 80.432.
Silver followed both gold and base metals. Base metals’ complex on LME closed 0.50 percent down.
Ishares silver holdings remained unchanged at 9412.43 MT on Monday. MCX silver futures for May delivery closed 0.56 percent down at Rs. 26,883/kg.
Outlook
Silver trades 8 cents down at $17.19/oz as the dollar index remains firm after yesterday’s recovery in late trades.
Asian stocks are also down due to considerable appreciation in Japanese Yen and this could extend some cues to silver also.
LME is running slightly lower. Silver may trade lower initially and then see some gains on buying at lower levels.
MCX silver futures are expected to open flat. There are no major economic data scheduled for the day.
Courtesy: Karvy Commtrade Ltd.
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MCX GOLDPETAL 29 February 2012
contract was trading at
Rs 2803 , up Rs. 15 . What's your view on it?
